Crude opened the week under 80 because a war that was supposed to start didn’t. The strike on Iran got called off over the weekend, the talks pick back up this afternoon, and every dollar of premium the tape paid for over the last three weeks came back out in one Sunday session. Equities took the other side and gapped clean through Friday’s high. Gold tried to rally on the same headline, decided it hated it, and unwound the whole move before I woke up. Still a bullish lean for me heading into the week. Especially now that we filled the normal business hours for the Strait of Hormuz peace talks going well tape gap from the Sunday Open (yes that is real). Lets have a good week.
